DGAP-News: Formycon AG / Key word(s): Incoming Orders Formycon AG signs first biosimilar licensing agreement with Santo Holding GmbH 12.12.2013 / 07:25 --------------------------------------------------------------------- - Out-licensing of first biosimilar from Formycon's product development pipeline - Successful long-term positioning as a global biosimilars development company - Formycon to receive success-based payments in the three-digit million euro range Munich - Formycon AG today announced the signing of an exclusive, worldwide licensing agreement with Santo Holding GmbH, owned by the well noted German pharmaceutical investors Andreas and Thomas Strüngmann, granting rights to the first biosimilar drug of Formycon's development pipeline. Under the terms of the agreement, Santo Holding will assume responsibility and bear the costs for the development and commercialization of the Formycon biosimilar drug. Formycon will perform the entire further development of the product for Santo Holding. Formycon will receive an immediate, single-digit million euro up-front payment and will be entitled to additional payments in the three-digit million euro range based upon the attainment of specific regulatory and sales results. 'I am delighted that we have been able to gain Santo Holding for this cooperation arrangement with Formycon. This attests to the strength of Formycon's long-term strategic orientation as a global biosimilars development company. I would also like to take this opportunity to thank the entire team at Formycon, which has worked so hard to bring about this successful outcome,' declared Dr. Carsten Brockmeyer, CEO of Formycon AG. 'This is the first licensing agreement to emerge from Formycon's own biosimilars development pipeline,' added Dr. Nicolas Combé, CFO of Formycon AG. 'Our cooperation arrangement with Santo Holding marks yet another major step as we build Formycon into a leading company in the development of global biosimilars, an industry with enormous growth potential.' 'Biosimilars will in the future become an important treatment option for patients around the world. We are pleased that we have found in Formycon a recognized and experienced partner in biosimilars development,' said Dr. Thomas Strüngmann. Background: What are 'biosimilars'? Since their introduction in the 1980s, biopharmaceuticals have revolutionized the treatment of diseases such as cancer, diabetes, rheumatoid arthritis and multiple sclerosis. In the coming years, many of the patents for these biopharmaceuticals will expire; by the year 2020, medications with revenues of more than USD 100 billion will lose their patent protection. In this way, it will become possible to launch follow-on products, known as 'biosimilars'. In contrast to traditional generic drugs, the development and production of biosimilars is highly complex and requires specialized expertise. About Formycon: Formycon AG is a biopharmaceutical company with more than ten years of drug development experience spanning the entire pharmaceutical value chain all the way through to phase III clinical trials and regulatory approval. The company's business focus is on the development of biopharmaceuticals (particularly biosimilars) of the highest quality, as well as the creation of innovative forms of drug delivery, both for use in its own products as well as on a service-provider basis for other biotechnology and pharmaceutical companies. Formycon's success in developing Biosimilars is based on the fulfillment of all regulatory requirements. The company's experts in protein analysis, process and product development, quality control, clinical trials and regulatory affairs work as an integrated team, thus ensuring successful development. The rapidly growing global market for biosimilars presents a significant opportunity for Formycon AG. Contact: Formycon AG Fraunhoferstr. 15 82152 Martinsried/Planegg Germany phone +49 (0) 89 - 86 46 67 100 fax + 49 (0) 89 - 86 46 67 110 [email protected] / www.formycon.com Disclaimer: This release may contain forward-looking statements and information which may be identified by formulations using terms such as 'expects', 'aims', 'anticipates', 'intends', 'plans', 'believes', 'seeks', 'estimates' or 'will'. Such forward-looking statements are based on our current expectations and certain assumptions which may be subject to variety of risks and uncertainties. The results actually achieved by Formycon AG may substantially differ from these forward-looking statements. Formycon AG assumes no obligation to update these forward-looking statements or to correct them in case of developments which differ from those anticipated. End of Corporate News --------------------------------------------------------------------- 12.12.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Formycon AG Fraunhoferstraße 145 82152 Planegg-Martinsried Germany Phone: 089 864667 100 Fax: 089 864667 110 Internet: www.formycon.com ISIN: DE000A1EWVY8 WKN: A1EWVY Listed: Freiverkehr in Berlin; Frankfurt in Open Market (Entry Standard) End of News DGAP News-Service --------------------------------------------------------------------- 244376 12.12.2013